It’s on.

Prime Minister Scott Morrison has set the date for this year’s federal election, thus setting off a five-week campaign sure to be filled with the inevitable thrills and spills.

It all comes to a head on May 18, when democracy sausages will be devoured and how-to-vote pamphlets will be handed out en masse as Australians head to the ballot box.

And based on the early polling and betting market odds, the incumbent Liberal Party will be hoping for a miracle after a tumultuous year which saw the downfall of former PM Malcolm Turnbull last August.

A few ASX small-caps are also praying for a miracle today, with the usual round of minnow stocks suffering some heavy falls.

More broadly, the ASX Small Ordinaries was down 11 points by 12:15pm AEST at 2,778.30, an intra-day fall of 0.4 per cent.

GOING UP

Alloy Resources (ASX: AYR) was top of the pops in morning trade, posting a 50 per cent gain to 0.3 cents after posting some good news about its Horse Well gold project — a joint venture with Silver Lake Resources.

Alloy said total inferred resources at the Horse Well JV now total 237,800 oz, a 300 per cent increase from previous estimates.

Small cap miners Classic Minerals (ASX: CLZ) and Norwest Energy (ASX: NWE) also rose by 50 per cent on no news.

Here are the best performing ASX small cap stocks at 11.30am on Thursday, April 11

Ticker Name Price % Chg Market Cap Volume
AYR Alloy Resources Ltd 0.003 50% $5,500,000 43.0M
CLZ Classic Minerals Ltd 0.002 50% $4,500,000 500.0k
NWE Norwest Energy NL 0.003 50% $485,300,000 1.1M
CVS Cervantes Corp Ltd 0.0004 33% $2,000,000 150.0k
AR9 Archtis Ltd 0.13 28% $15,400,000 982.0k
SGO Stream Group Ltd 0.01 25% $2,200,000 1.3M
NET NetLinkz Ltd 0.13 24% $172,800,000 9.7M
AJL AJ Lucas Group Ltd 0.16 23% $120,000,000 140.2k
ARD Argent Minerals Ltd 0.02 21% $11,100,000 579.4k
KLH Kalia Ltd 0.003 20% $7,500,000 330.3k
HNR Hannans Ltd 0.01 18% $23,900,000 3.5M
MYQ MyFiziq Ltd 0.3 18% $24,700,000 314.7k
RHT Resonance Health Ltd 0.14 17% $54,300,000 2.3M
LIN Lindian Resources Ltd 0.01 17% $4,900,000 5.6M
QFY Quantify Technology Holdings 0.01 17% $6,800,000 85.0k
8CO 8common Ltd 0.07 16% $9,600,000 562.1k

GOING DOWN

There were some familiar names at the pointy end of the biggest-loser spectrum, with Shareroot (ASX: SRO) and 333D Ltd (ASX: 3TD) both leading falls in morning trade.

Data-sharing company Shareroot continues to struggle for traction, as it lost 50 per cent of its value to fall back to 0.1 cents (on no news) — a price range where it’s been bouncing around in recent weeks. 333D, the embattled 3D printing company, also halved in value to 0.1 cents.

Elsewhere, coal miner Intra Energy (ASX: IEC) fell by almost 25 per cent to 2.5 cents, after announcing that its Caspian court case has been postponed “to provide the court more time to appoint a judge to the case”.

Here are the worst performing ASX small cap stocks at 11.30am on Thursday, April 11

Ticker Name Price % Chg Market Cap Volume
RFX Redflow Ltd 0.05 -26% $32,800,000 3.6M
ANW Aus Tin Mining Ltd 0.01 -21% $23,900,000 3.5M
HOR Horseshoe Metals Ltd 0.01 -20% $2,300,000 55.0k
MRQ MRG Metals Ltd 0.004 -20% $2,700,000 13.0k
GTE Great Western Exploration Ltd 0.004 -20% $3,900,000 180.0k
RVS Revasum Inc 1.34 -19% $103,000,000 100.0k
RMX Red Mountain Mining Ltd 0.005 -17% $3,900,000 1.1M
QGL Quantum Graphite Ltd 0.003 -17% $18,900,000 666.7k
QFY Quantify Technology Holdings L 0.006 -14% $5,800,000 161.8k
FGO Flamingo AI Ltd 0.006 -14% $6,700,000 1.1M
LIN Lindian Resources Ltd 0.013 -13% $4,900,000 2.0M
AVH Avita Medical Ltd 0.35 -13% $680,500,000 8.8M
NTI Neurotech International Ltd 0.007 -13% $950,000 13.3k
LMG Latrobe Magnesium Ltd 0.007 -13% $9,100,000 296.2k
NET NetLinkz Ltd 0.1 -12% $138,500,000 7.8M